The attractions of Mexico and the Caribbean destinations in the luxury sector were reinforced by the purchase of Apple Leisure Group from the Hyatt company for $ 2.7 billion.
The attractions of Mexico and the Caribbean destinations in the luxury vacation sector were reinforced by the purchase of the Apple Leisure Group (ALG) company at the hands of the Hyatt company for 2.7 billion dollars
“The sale to Hyatt confirms our strategy for this all-inclusive five-star luxury sector and with all the security protocols and a very special experience,” Alejandro Reynal, CEO of ALG, explained to Efe on Thursday.
After sealing the purchase agreement last weekend, Hyatt and ALG expect to close the operation in the last quarter of this year. ALG will maintain all of its brands and their operation independently of Hyatt.
Reynal will continue as CEO of ALG and will report directly to Hyatt President and CEO Mark Hoplamazian.
“Our growth potential is multiplied with our integration into Hyatt, which opens up new opportunities for us to accelerate growth in Latin America, the Mediterranean, the Middle East, and Asia,” said Reynal.
“We will continue to invest in the region (Latin America and the Caribbean) and now with much greater development capacity by having everything that Hyatt represents,” added the CEO of ALG.
Apple Leisure Group is a leading luxury resort, travel and hospitality management services group with more than 33,000 rooms in 10 countries which also includes its recent expansion to Spain and Greece.
Since 2007, ALG has grown rapidly from managing 9 resorts to close to 100 properties by the end of 2021, plus a portfolio of 24 deals executed in its expansion process.
The pandemic reinforces strategy
Alejandro Reynal assured that the pandemic has reinforced his strategic vision of hotels with large open facilities, with all-inclusive luxury resorts “in which the guest seeks a great experience and to be well cared for in a safe environment.”
Reynal expects that there will be a complete recovery of this vacation sector in 2022, while hotel services for business will take time to recover due to the change in habits in companies.
“The tourist destinations of the Caribbean and Mexico (especially Cancun, Los Cabos and Puerto Vallarta) are reinforced for the North American tourist who seeks that vacation experience offered by our quality hotels, security and unique experience,” said the manager.
For the recovery of the pre-pandemic figures, Reynal considers that there are two key elements: consumer confidence to travel and the reductions in barriers that now prevent a greater number of trips.
“For our part, we will continue to apply all sanitary protocols to guarantee the safety of our guests because many of these protocols have come to stay,” he said.
ALG operates with a wide number of brands such as Secrets Resorts & Spa, Dreams Resorts & Spas, Breathless Resorts & Spas, and Zoëtry Wellness & Spa Resorts, as well as the fast-growing brand Alua Hotels & Resorts, expanding into European leisure destinations. .
Hyatt’s purchase also includes the 110,000-member Unlimited Vacation Club, which manages the ALG Vacations travel distribution business and travel technology asset and destination management services.
Hyatt CEO Mark Hoplamazian noted that “the addition of ALG properties will immediately double Hyatt’s global resort presence.”
“ALG’s portfolio of luxury brands, leadership in the all-inclusive segment and large portfolio of new resorts will expand our reach into new and existing markets, including Europe, and further accelerate our leading net room growth. the industry, “he said.
With the purchase of ALG, Hyatt will have the largest portfolio of all-inclusive luxury resorts in the world, double its global resort presence, be the largest operator of luxury hotels in Mexico and the Caribbean, and expand its European presence 60%.